The month of November has been a tough one for Obama, but the rebirth of GM as a publicly traded company is a major victory. Looking back, the decision to bail out GM may seem rather obvious, especially for those of us in this part of the world. The prospect of letting GM go broke would have been catastrophic and unthinkable.
I want to say that I cannot imagine any president that would allow GM to go bankrupt. But in today’s political environment I can imagine a President so tied to their far right “free market at any cost” ideology that she (did I say she?) would let our whole economy go down in flames based on a misguided principle.
Am I happy that tax payer’s money was put at risk to save a private company? Of course not. Let’s hope this kind of intervention in the free market does not become common place. I am just thankful that we have an administration flexible and bold (yeah, you heard me, I said “bold”) enough to step forward and fix this, rather than relying on principle as an excuse to do nothing,
For those that say President Obama owns the economy, I still say that is unfair. But, no one can deny that the President owns the decision to save GM.
Let’s not forget those who, for political and ideology reasons, would have let GM fail because they were wrong and President Obama was right.